The Royal Exchange, the City of London’s leading luxury destination, has reached 96% occupancy following four new arrivals at the scheme.
Skincare specialist Dr David Jack is to open a new store and clinic this summer in unit 22, fronting onto Threadneedle Street and taken on a new 10-year lease, and Rosslyn Coffee has signed a 15-year lease for the adjacent unit 21. In addition, luxury footwear brand Horatio is to open its first bricks-and-mortar store at unit 6 on Cornhill, while bespoke tailor Sartoria dei Duchi, formerly of Jermyn Street, has taken the remaining internal retail unit.
The latest signings mean The Royal Exchange is approaching full occupancy, highlighting growing demand from both luxury retailers and dining operators at the iconic scheme. Recent long-term commitments include major luxury brands such as Tiffany & Co., Bremont, Omega, Montblanc and Hermès, while Des Gunewardena will soon be opening his Engel and Jang restaurant, bar and event space concept within The Royal Exchange’s mezzanine area.
The Square Mile is undergoing a wider resurgence as a luxury retail and social destination, with The Royal Exchange playing a key role in the revival. Continued growth in visitor numbers, alongside the creation of a new public realm around the building, is underpinning strong demand from brands, bars and restaurants seeking to capitalise on The Royal Exchange’s growing reputation as the City’s leading destination to shop, eat and socialise.
Andrew Hilston, managing director of The Ardent Companies UK, said: “It’s great to welcome these four new arrivals, and particularly exciting to see The Royal Exchange approach full occupancy as a result. With its range of luxury retailers, new dining concepts and exciting bars, it is increasingly the beating heart of the City of London, and a major driver of the Square Mile’s ongoing resurgence.”
The retail element of The Royal Exchange was acquired by US-based real estate investment and asset management firm The Ardent Companies in October 2022. Since the acquisition, The Ardent Companies UK, together with specialist asset manager Pave, has implemented a new leasing strategy and refreshed the advisory team, with experienced City agents at Bruce Gillingham Pollard and Savills appointed to rejuvenate the tenant mix.
